Reflection on the TOM for the outsourcing of a Life Insurance department

Client Needs & Objectives

Objectives:

  • To launch a relfection on the Target Operating Model of the Life Inurance Dept. Of an insurer for an outsourcing project
  • Create a model that enables our client to focus on his activities with the highest added-value

Scope:

  • Life Insurance HNWI
  • Selection of the target foe outsourcing of the activity

Techniques:

  • Decision matrix of service providers
  • Cartography of internal processes

Our Approach

Analysis of internal processes within the Life Insurance Dept.:

  • Mapping of the current organisation and processes of the Dept.
  • Organisation of workshops to have the global picture of the LI activity
  • Finally, proposition of a decision matrix to select the appropriate activities to outsource

Outsourcing study to select a service provider for LI operations:

  • Cartography of the best players in the outsourcing services
  • Drafting of requirement specifications & criteria matrix for the decision
  • Meeting with the selected service providers to make the decision

Client Benefits & Main Results

Client aligned with our analysis of its activity & the scope of the study

A cost-controlled project for an estimated 2-year period

Satisfaction with the process of selection of the service provider

Estimated gain of 4.34 M€ each year after the outsourcing is completed